Wells Fargo Advisors Financial Network, the independent brokerage arm of Wells Fargo Advisors, has lured financial advisor Jeffrey Fratarcangeli from Merrill Lynch.

In his new role, Fratarcangeli will establish an independent financial advisory practice affiliated with Wells Fargo Advisors Financial Network in Birmingham.

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Fratarcangeli previously managed more than US$424 million in client assets.

Prior to joining Merrill in 2008, Fratarcangeli worked for Citigroup. He started his career in 1996 with Dean Witter Reynolds.

Wells Fargo Advisors Financial Network has 600 practices managing over US$76 billion in assets under management.

Kent Christian, president of Wells Fargo Advisors Financial Network, said: "Advisors and practices continue to see the benefit of being able to become independent while leveraging the products, platform and support of a major wirehouse."

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